KARACHI - Agricultural credit disbursement by commercial and specialized banks rose 11.02 per cent year-on-year to Rs 144.703 billion in the first eight months (July-Feb) of the current 2009-10 fiscal year (FY10). In absolute terms, disbursement of credit to the agriculture sector increased by over Rs 14.361b in July-February, 2010 when compared with total disbursement of Rs 130.342b in the same period last year. Official figures on agricultural credit released by the SBP here on Wednesday, showed overall credit disbursement by five major commercial banks including Allied Bank Limited, Habib Bank Limited, MCB Bank Limited, National Bank of Pakistan and United Bank Limited stood at Rs 74.767 billion in July-Feb., 2010 compared with Rs 62.632 billion in July-Feb. 2009, depicting an increase of Rs 12.135 billion or 19.37 percent. Zarai Taraqiati Bank Limited, the largest specialized bank, disbursed a total of Rs 41.938 billion in July-Feb., 2010, up 9.14 percent when compared with Rs 38.427 billion in the same period last year, while disbursement by Punjab Provincial Co-operative Bank Limited stood at Rs 3.441 billion in July-Feb., 2010 compared with Rs 3.464 billion in the same period last year. Besides, 14 domestic private banks also loaned a combined Rs 24.557 billion in July-Feb., 2010 compared with Rs 25.819b disbursed in July-Feb., 2009. It may be recalled that the State Bank of Pakistan has set an indicative agricultural credit disbursement target of Rs 260b for FY10. Banks disbursed a total of Rs 233.01b to the agricultural sector in FY09.